Accepting payments from your customers is not as easy as you think but there is no need for it to be complicated.
The key is to find the right fit payment gateway that suits the needs of your business and ensures a superior shopping experience for your customers. So, how do you select a payment gateway UAE has to offer? Just follow the below-mentioned tips and you will be able to shortlist the right gateway for your online business.
Choosing Between Modern and Classic Payment GatewaysPreviously, online retailers and sellers required a merchant account to accept credit card payments. However, modern payment gateways do not mandate merchant accounts as they accept credit and debit card payments from customers and deposit it into your account. Thereafter, you can transfer the money to your bank account.
You can integrate modern payment gateways with relative ease but may end up paying a high fee for each transaction. Also, some modern payment gateways take customers to another site to make payments and this could adversely affect conversions.
On the other hand, classic payment gateway UAE has to offer takes a long time to set up and may require technical knowledge on your part. It also requires a merchant account. The good news is that these gateways have lower transaction fees that make them highly attractive if you are selling large volumes.
Hosted or Integrated Payment GatewayYou have the option of using a hosted payment gateway that is hosted off-site or integrate it with your eCommerce store. When choose the former, you do not have to worry about PCI-DSS compliance as the payment gateway provider is responsible for it. However, some consumers may not have faith in off-site online payment gateways and may abandon the shopping cart as a result.
An integrated payment gateway uses API to connect with your website and customers do not leave your site to make the payment for their purchase. It ensures a seamless shopping experience. It is advisable to select a payment gateway that is easy to integrate and does not require technical knowledge for integration. Also, the gateway should be PCI-DSS certified so that your customers do not hesitate to enter their credit or debit card details.
Check the PricingTo shortlist the right payment gateway for your business, look at the pricing. Most online payment gateways either charge per transaction or a monthly fee for a specific volume of sales. You may want to opt for a monthly plan as it will allow you to sell luxury goods without feeling the pinch.
Also, review the entire payment process to understand how it will look on your eCommerce site. That way, you will know what your customers experience and whether it is the right gateway for them.
The Final WordA payment gateway is a necessity and should be part of your webstore before you launch it. Once you add the payment gateway UAE has to offer, you will be able to promote your site, knowing that you have the right gateway.
All You Need to Know about a Payment Gateway
When it comes to a payment gateway, there are many things you need to pay attention to before you come to a conclusion on which is the best one for you.
Know About The Basics in Payment Gateway in KSA
Nowadays, nearly all businesses operating online in Saudi Arabia accept electronic payments regardless of the volume. Just businesses require a payment gateway.
Things to Keep a Track of When Dealing with Payment Gateway Providers
It is no surprise the extent to which payment gateways have become the next big thing in the online transaction world.
